San Diego, CA -- (ReleaseWire) -- 06/10/2014 -- An investigation on behalf of current long-term investors in shares of Och-Ziff Capital Management Group LLC (NYSE:OZM) concerning potential breaches of fiduciary duties by certain directors and officers of Och-Ziff Capital Management Group was announced.
Investors who are current long term investors in Och-Ziff Capital Management Group LLC (NYSE:OZM) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE:OZM stocks follows a lawsuit filed recently against Och-Ziff Capital Management Group LLC over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:OZM stocks concerns whether certain Och-Ziff Capital Management Group) officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for Southern District of New York the plaintiff alleges that the defendants violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff claims that between February 9, 2012 and April 25, 2014 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Och-Ziff Capital Management Group LLC violated relevant anti-bribery laws by accepting an investment from the Libyan Investment Authority, a sovereign wealth fund, that Och-Ziff Capital Management Group LLC loaned $234 million to help finance two ventures in the Democratic Republic of Congo in violation of the Foreign Corrupt Practices Act ("FCPA"), that beginning in 2011, Och-Ziff Capital Management Group LLC received subpoenas from the Securities and Exchange Commission("SEC") and the United States Department of Justice ("DOJ") in connection with the transactions mentioned above, and that as a result of the above, Och-Ziff Capital Management Group LLC’s financial statements were materially false and misleading at all relevant times.
On March 18, 2014, Och-Ziff Capital Management Group LLC disclosed that in the beginning in 2011, and from time to time thereafter, it have received subpoenas from the SEC and requests for information from the U.S. Department of Justice (the “DOJ”) in connection with an investigation involving the FCPA and related laws. Och-Ziff Capital Management Group LLC said that the investigation concerns an investment by a foreign sovereign wealth fund in some of its funds in 2007 and investments by some of its funds, both directly and indirectly, in a number of companies in Africa.
Shares of Och-Ziff Capital Management Group LLC closed on June 6, 2014 closed at $13.39 per share.
Those who purchased shares of certain Och-Ziff Capital Management Group LLC have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego